BUSINESS

Y-o-y rise in OAED’s total jobless figure

TAGS: Economy

The number of people registered as unemployed with the Manpower Organization (OAED) declined last month by 79,570 compared with March, thanks to the start of the tourism season.

However, this does not signify any improvement in the labor market, as the number of unemployed people has actually increased on an annual basis.

In April 992,646 people were registered as jobless at OAED, slipping below the million mark because the figure dropped by 79,570 people, but in April 2015 the registered unemployed had amounted to 988,582 people, meaning the number of jobless individuals rose by 4,064 within one year.

Over half of them (50.66 percent or 502,925 people) were long-term unemployed (without a job for at least 12 months) – down 31,626 people from a year earlier.

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